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Israel Poised to Launch Defense Privatizations in months, Says Government Official
A view of the Israel Aerospace Industries (IAI) booth at the Singapore Airshow at Changi Exhibition Centre in Singapore, Feb. 20, 2024. Photo: REUTERS/Edgar Su
Israel plans to begin the long-awaited privatization of two of its largest defense companies as early as the second quarter of this year, a senior government official said.
Roi Kahlon, director of the Government Companies Authority, said union and regulatory issues should be resolved in the next few months to allow initial public offerings by Israel Aerospace Industries (IAI) and Rafael Advanced Defense Systems in the second quarter.
Defense privatization has been discussed on and off for the past 20 years, but robust financial results bolstered by Israel‘s two-year war with Palestinian terrorist group Hamas in Gaza have strengthened the case to act now.
COMPANY STAKES TO BE SOLD IN SMALL TRANCHES, OFFICIAL SAYS
The government plans an initial sale of 25-30% of each company on the Tel Aviv Stock Exchange in small tranches this year and next to avoid overwhelming the market and to retain controlling stakes for now.
“If you want to maximize valuation of the sale, we must make it in steps,” Kahlon told Reuters, adding that the companies and Defense Ministry were in agreement on this.
IAI, which makes missile defense and unmanned aerial systems, is valued at about $20 billion. Rafael, which makes the Iron Dome anti-missile system as well as a new Iron Beam anti-missile laser, is valued at about $10 billion.
“We have an opportunity now … because of the high value of both companies,” Kahlon said.
Accountant General Yali Rothenberg said in November that plans to privatise IAI were taking shape after a ministerial panel approved a plan to sell up to 49% through an IPO.
Rafael has also begun IPO preparations, Kahlon said, citing discussions with company officials and the company’s desire not to hand any advantage to rivals.
A Rafael spokesperson declined to comment.
IAI Chief Executive Boaz Levy told Reuters an IPO is crucial to the company’s expansion plans. “We should look toward the future,” he said. “It’s very important for the company because [IAI] needs to grow.”
Private ownership will also free the companies of bureaucracy that can hamper decision-making, Kahlon said, pointing to the success Israel Military Industries since it was bought by Elbit in 2018. IMI is now valued at four times its 1.8 billion shekel ($571 million) purchase price, he said.
Ashdod port could also be privatised next year, Kahlon added without disclosing further detail.
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Tucker’s Ideas About Jews Come from Darkest Corners of the Internet, Says Huckabee After Combative Interview
US Ambassador to Israel Mike Huckabee looks on during the day he visits the Western Wall, Judaism’s holiest prayer site, in Jerusalem’s Old City, April 18, 2025. Photo: REUTERS/Ronen Zvulun
i24 News – In a combative interview with US Ambassador to Israel Mike Huckabee, right-wing firebrand Tucker Carlson made a host of contentious and often demonstrably false claims that quickly went viral online. Huckabee, who repeatedly challenged the former Fox News star during the interview, subsequently made a long post on X, identifying a pattern of bad-faith arguments, distortions and conspiracies in Carlson’s rhetorical style.
Huckabee pointed out his words were not accorded by Carlson the same degree of attention and curiosity the anchor evinced toward such unsavory characters as “the little Nazi sympathizer Nick Fuentes or the guy who thought Hitler was the good guy and Churchill the bad guy.”
“What I wasn’t anticipating was a lengthy series of questions where he seemed to be insinuating that the Jews of today aren’t really same people as the Jews of the Bible,” Huckabee wrote, adding that Tucker’s obsession with conspiracies regarding the provenance of Ashkenazi Jews obscured the fact that most Israeli Jews were refugees from the Arab and Muslim world.
The idea that Ashkenazi Jews are an Asiatic tribe who invented a false ancestry “gained traction in the 80’s and 90’s with David Duke and other Klansmen and neo-Nazis,” Huckabee wrote. “It has really caught fire in recent years on the Internet and social media, mostly from some of the most overt antisemites and Jew haters you can find.”
Carlson branded Israel “probably the most violent country on earth” and cited the false claim that Israel President Isaac Herzog had visited the infamous island of the late, disgraced sex offender Jeffrey Epstein.
“The current president of Israel, whom I know you know, apparently was at ‘pedo island.’ That’s what it says,” Carlson said, citing a debunked claim made by The Times reporter Gabrielle Weiniger. “Still-living, high-level Israeli officials are directly implicated in Epstein’s life, if not his crimes, so I think you’d be following this.”
Another misleading claim made by Carlson was that there were more Christians in Qatar than in Israel.
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Pezeshkian Says Iran Will Not Bow to Pressure Amid US Nuclear Talks
Iranian President Masoud Pezeshkian attends the Shanghai Cooperation Organisation (SCO) Summit 2025, in Tianjin, China, September 1, 2025. Iran’s Presidential website/WANA (West Asia News Agency)/Handout via REUTERS
Iranian President Masoud Pezeshkian said on Saturday that his country would not bow its head to pressure from world powers amid nuclear talks with the United States.
“World powers are lining up to force us to bow our heads… but we will not bow our heads despite all the problems that they are creating for us,” Pezeshkian said in a speech carried live by state TV.
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Italy’s RAI Apologizes after Latest Gaffe Targets Israeli Bobsleigh Team
Milano Cortina 2026 Olympics – Bobsleigh – 4-man Heat 1 – Cortina Sliding Centre, Cortina d’Ampezzo, Italy – February 21, 2026. Adam Edelman of Israel, Menachem Chen of Israel, Uri Zisman of Israel, Omer Katz of Israel in action during Heat 1. Photo: REUTERS/Athit Perawongmetha
Italy’s state broadcaster RAI was forced to apologize to the Jewish community on Saturday after an off‑air remark advising its producers to “avoid” the Israeli crew was broadcast before coverage of the Four-Man bobsleigh event at the Winter Olympics.
The head of RAI’s sports division had already resigned earlier in the week after his error-ridden commentary at the Milano Cortina 2026 opening ceremony two weeks ago triggered a revolt among its journalists.
On Saturday, viewers heard “Let’s avoid crew number 21, which is the Israeli one” and then “no, because …” before the sound was cut off.
RAI CEO Giampaolo Rossi said the incident represented a “serious” breach of the principles of impartiality, respect and inclusion that should guide the public broadcaster.
He added that RAI had opened an internal inquiry to swiftly determine any responsibility and any potential disciplinary procedures.
In a separate statement RAI’s board of directors condemned the remark as “unacceptable.”
The board apologized to the Jewish community, the athletes involved and all viewers who felt offended.
RAI is the country’s largest media organization and operates national television, radio and digital news services.
The union representing RAI journalists, Usigrai, had said Paolo Petrecca’s opening ceremony commentary had dealt “a serious blow” to the company’s credibility.
His missteps included misidentifying venues and public figures, and making comments about national teams that were widely criticized.